Wow. How Bitcoin has grown this month...very impressive. 

Unfortunately, I can no longer call Bitcoin a fledgling currency. It has arrived in the mainstream media...more to follow on this in subsequent posts.

Therefore, it is only appropriate that I now change the market icon into the International Space Station. Like the space station, Bitcoin is now here to stay. 


So, as part of this weeks update, here are some big retail names accepting Bitcoin.

• TARGET
• VIRGIN GALACTIC
• EBAY & AMAZON

Here's a brief timeline of the recent BTC value increase. For November it has increased from $200/BTC --> $1200/BTC

• Oct 2 ($80/BTC), 
  
• Oct  24 ($204/BTC), 
  
• Oct 25 ($155/BTC) 
  
• Nov 2 ($200/BTC) 
  
• Nov 8 ($310/BTC)
• Nov 15 ($475/BTC)
• Nov 17 ($503/BTC)
• Nov 18 ($900/BTC)
• Nov 19 ($400/BTC)
• Nov 23 ($810/BTC)
• Nov 29 ($1226/BTC)

The Bitcoin network capacity was 5180TH/s last week and is now 5550TH/s. The Bitcoin network is now 107% over the span of this week. 

The Bitcoin market capitalization is $14.8B this week. For perspective, it was listed at $1.652B --> $2.504B --> $4.0B --> $6.4B --> $10.4B over the last few weeks.

This week the BTC price has launched, re-entered the atmosphere, bounced back and has finally left the earth. 

If you don't follow the BTC pricing this week, here is a quick summary ....It hit $900/BTC on Monday...Then it crashed to $400/BTC on Tuesday. However it now sits just north of $800/BTC on Saturday....Remarkable.


Here's a brief timeline of this huge gain, brief loss and HUGE recovery.

• Oct 2 ($80/BTC), 
  
• Oct  24 ($204/BTC), 
  
• Oct 25 ($155/BTC) 
  
• Nov 2 ($200/BTC) 
  
• Nov 8 ($310/BTC)
• Nov 15 ($475/BTC)
• Nov 17 ($503/BTC)
• Nov 18 ($900/BTC)
• Nov 19 ($400/BTC)
• Nov 23 ($810/BTC)

The Bitcoin network capacity was noted at 3088TH/s four weeks ago, 4217TH/s three weeks ago, 3230TH/s two weeks ago, was 4620TH/s last week and is now 5180TH/s. The Bitcoin network is now 121% over the span of this week. 

The Bitcoin market capitalization is $10.4B this week. For perspective, it was listed at $1.652B --> $2.504B --> $4.0B --> $6.4B over the last few weeks.

Quick Fact:
Bitcoin has exceeded the 2012 GDP of countries such as Barbados ($6.4B), St. Lucia($2.1B), Antigua ($1.5B), St Kitts ($0.87B) and now Bahamas ($10.4B)

Sometimes, investing in BTC feels like riding a roller coaster....Today is one of those days.

Nov 18 began with BTC riding a wave of enthusiasm at hitting an all time high of around $500/BTC to open the day....Then all hell broke loose and BTC price hit the stratosphere. 

According to the intra-day trading charts attached below, BTC hit an all time high of $900/BTC on MT Gox. 

This pricing level was followed closely on the BTC-E and Virtex Canada exhanges. 

By the end of the day, investors hit the panic button and caused a massive sell off, lowering the price to around $400.00. However, by the time of publishing this posting, the price of BTC has recovered to a relatively steady state value of $650-700/BTC.

Absolutely phenomenal performance from the remarkable distributed digital currency....This is why I love reporting on this new digital currency frontier. Buckle your seat-belt and enjoy the ride.

BTC price has launched and has left the earth...This is extremely exciting time for BTC currency!!

Here's a brief timeline of this huge gain, brief loss and HUGE recovery.

• Oct 2 ($80/BTC), 
  
• Oct  24 ($204/BTC), 
  
• Oct 25 ($155/BTC) 
  
• Nov 2 ($200/BTC) 
  
• Nov 8 ($310/BTC)
• Nov 15 ($475/BTC)
• Nov 17 ($503/BTC)
• Nov 23 (To Be Continued - Prediction of $625)

The Bitcoin network capacity was noted at 3088TH/s three weeks ago, 4217TH/s two week, 3230TH/s last week and is now 4620TH/s. The Bitcoin network is now 143% over the span of this week. 

The Bitcoin market capitalization is $6.3B this week. For perspective, it was listed at $1.652B dollars four weeks ago, $2.504B three weeks ago and $4.0B last week.

Quick Fact:
Bitcoin has exceeded the 2012 GDP of countries such as Barbados ($6.4B), St. Lucia ($2.1B), Antigua ($1.5B), St Kitts ($0.87B)....Additionally other sizable countries are quickly coming within range of BTC surpassing their GDP output.

Source: http://www.econstats.com/weo/V010.htm

You know Bitcoin mining has hit the mainstream when a computer manufacturer dedicates its design and manufacturing efforts to go after the market. This is exactly what happened at ASRock. 


They have announced their dedicated Bitcoin mining platform the H61 Pro BTC motherboard. 

This motherboard includes the ability to connect 6 video cards simultaneously for Bitcoin or Altcoin mining. As far as GPU mining is concerned, 6 cards is very difficult to achieve with existing hardware. Therefore, congratulations to ASRock as this is a very impressive piece of hardware to design and manufacture.

ASRock H61 Pro BTC

Bitcoin continues to make strides to become a legitimate currency with the same options as any other fiat currency. These are certainly exciting times for this fledgling currency which is making inroads into the real world of every day transactions.

The goal of these options is not to highlight Bitcoin with every vendor, but to make Bitcoin as transparent as possible between the vendor and the purchaser without having to go into details of Bitcoin at every transaction. This is certainly the future of Bitcoin as a currency...In effect it "gets out of the way" and enables users to purchase goods and services as nominally as possible. There are Bitcoin ATM, Debit cards and Online Merchants signed up for this service.

These recent accomplishments are listed as follows:

• Bitcoin ATM (Canada) is available in Vancouver and coming soon to Toronto. Allows users to buy and sell Bitcoin in real time with in person cash deposits and withdrawals. As an update, the Bitcoin ATM in Vancouver has traded $100k in one week.
  

BTC price rocket is primed and launching...This is extremely exciting time for BTC currency!!

The mainstream media and banking sector is finally realizing the impact of a digital distributed currency.

Here's a brief timeline of this huge gain, brief loss and HUGE recovery.

• Oct 2 ($80/BTC), 
  
• Oct  24 ($204/BTC), 
  
• Oct 25 ($155/BTC) 
  
• Nov 2 ($200/BTC) 
  
• Nov 8 ($310/BTC)
• Nov 15 (To be continued next week)

The Bitcoin network capacity was noted at 3088TH/s two weeks ago, 4217TH/s last week and now 3230TH/s. The Bitcoin network is now -30% over the span of this week. 

It appears the rapid increase in difficulty over the past 4 weeks has driven a large number of miners from the Bitcoin network.

The Bitcoin market capitalization was listed at $1.652B dollars three weeks ago, $2.504B two weeks ago and is now $4.0B this week (MT Gox Pricing). 


The currency has effectively doubled in value in just over 1 week....$1.5B in one week...Unbelievable.

We here are Bitcoinnews.ca are celebrating our 1st Birthday on Nov 10th with you our readers. 

There is a lot of information within the Bitcoin community and we are excited that you have joined us here and continue to revisit to see what is new within the financial and overall world of Bitcoin.

As a birthday present to our readers, we would like to give out gifts of Bitcoin. 

In order to qualify please provide your feedback on our website and tell us what you like and what needs to be changed.

To celebrate your feedback on our website, we will be giving out tokens of appreciation in the form of Bitcoin currency.  

• 1st Prize = 0.05 BTC  - WINNER AHMED E.
  
• 2nd Prize = 0.025 BTC - WINNER TONG L.
  
• 3rd Prize = 0.025 BTC - WINNER ROMAN S.
  

Thank you to participants.

Bitcion mining hardware company RedFury has just announced their venture into the ASIC mining hardware arena. What makes them different than most of the other players in this market space is they actually have a product that is shipping as soon as it was announced.


Congratulations to RedFury for announcing a product that is ready to ship.

Hardware specifications

• Bitcoin Hashrate = 2.6GH/s
• Power Consumption = 2.5W
• External power required = NO, powered by USB
• Cost = 0.49BTC / unit

More details are available on the following Bitcointalk link.

What a resilient currency Bitcoin is developing into....Recovering any recent losses in 10 day period. 
Any losses incurred from Oct 25 to Nov 1 have been recovered.

Prime the rockets....Here we go!!

Here's a brief timeline of this huge gain, loss and rapid recovery.

• Oct 2 ($80/BTC), 
  
• Oct  24 ($204/BTC), 
  
• Oct 25 ($155/BTC) 
  
• Nov 2 ($200/BTC) 
  

The Bitcoin network capacity was noted at 3088TH/s and is now sitting at 4217TH/s. The Bitcoin network is now 136% over the span of this week. 

The Bitcoin market capitalization was listed at $1.652B dollars three weeks ago, and is now $2.504B (MT Gox Pricing).